SL PHARM(002038)2025-04-21 12:50Financial Performance - The company's operating revenue for 2024 was ¥660,419,604.31, a decrease of 35.15% compared to ¥1,018,358,696.85 in 2023[6]. - The net profit attributable to shareholders for 2024 was a loss of ¥74,065,657.76, representing a decline of 117.77% from a profit of ¥416,691,942.89 in 2023[6]. - The net cash flow from operating activities decreased by 51.00% to ¥225,487,183.11 in 2024, down from ¥460,197,296.50 in 2023[6]. - The basic earnings per share for 2024 was -¥0.07, a drop of 117.07% from ¥0.41 in 2023[6]. - Total assets at the end of 2024 were ¥5,979,019,318.74, a decrease of 4.76% from ¥6,277,761,845.44 at the end of 2023[6]. - The company reported a significant decline in the net profit after deducting non-recurring gains and losses, which was ¥82,336,980.01 in 2024, down 64.75% from ¥233,590,683.69 in 2023[6]. - The company achieved a total revenue of ¥660,419,604.31, a year-on-year decrease of 35.15%[58]. - The net profit attributable to shareholders was -¥74,065,657.76, representing a year-on-year decline of 117.77%[58]. - The company invested ¥283,075,167.99 in R&D, down 24.91% compared to the previous year[58]. Dividend Distribution - The company plans to distribute a cash dividend of 0.20 RMB per 10 shares to all shareholders, based on a total of 1,027,350,000 shares[4]. - The company distributed a cash dividend of 1.5 RMB per 10 shares, totaling 154,102,500 RMB based on a total share capital of 1,027,350,000 shares as of December 31, 2023[147]. - The cash dividend policy has been consistent with the company's articles of association and the resolutions of the annual general meeting[148]. - The total distributable profit for the reporting period is 3,734,614,755.77 RMB, with the cash dividend amounting to 20,547,000 RMB, representing 100% of the profit distribution[148]. - The company has maintained a stable cash dividend policy since its listing, adhering to regulatory requirements and ensuring transparency in decision-making[146]. - The company has not made any adjustments to its cash dividend policy during the reporting period, maintaining its commitment to shareholder returns[148]. Research and Development - The company invested ¥283,075,167.99 in R&D, down 24.91% compared to the previous year[58]. - The company plans to launch two second-generation gene engineering blockbuster products in the next two years, significantly enhancing its competitiveness in biopharmaceuticals[55]. - The company has a rich pipeline of potential products, including long-acting protein drugs and specialty patented drugs, across various therapeutic areas such as oncology and cardiovascular diseases[56]. - The company is actively adjusting its marketing strategies to adapt to changes in the pharmaceutical market and is focusing on the development of innovative products[59]. - The company has made significant progress in the development of key R&D projects and new technology platforms, enhancing its engineering capabilities in eukaryotic expression systems[60]. - The company is committed to advancing its research and development efforts, with a strong pipeline of innovative therapies aimed at addressing unmet medical needs[63]. Market Challenges - The company faced challenges in the pharmaceutical industry due to intensified competition and price reductions from centralized procurement policies, impacting profit margins and R&D investments[29]. - The average price reduction from centralized procurement has exceeded 50%, with some products seeing price drops of over 80%[31]. - The average price reduction of selected drugs in the national procurement process exceeds 50%, forcing companies to innovate[32]. - The ongoing national centralized drug procurement will continue to expand, with 435 drugs successfully procured since the pilot began in November 2018, impacting profit margins for many products[106]. - The company faces risks from price reductions due to intensified competition in the centralized procurement process, potentially leading to a micro-profit era for some products[108]. Corporate Governance - The company operates independently from its controlling shareholders, with a complete and autonomous business and operational capability[115]. - The company has established a comprehensive independent asset procurement and supply system, ensuring no asset encroachment by major shareholders[116]. - The company has a fully independent financial department with its own accounting personnel and bank accounts, ensuring no interference from controlling shareholders in fund usage[118]. - The company has a clear ownership structure, with no major shareholder infringing on its assets[116]. - The company has established comprehensive governance documents to ensure compliance with laws and regulations[153]. - The internal control system has been continuously improved, ensuring risk controllability through a structured governance mechanism[152]. Environmental Responsibility - The company has invested approximately 7 million RMB in environmental protection facilities, and the local government has not yet started collecting environmental protection taxes[166]. - The company has established a charity foundation with an initial capital of 8 million RMB to support patients facing economic difficulties due to major illnesses, providing a total of 950,000 RMB in donations in 2024[169][170]. - The company has implemented a comprehensive environmental monitoring plan in accordance with its pollution discharge permit requirements[164]. - The company has received no administrative penalties related to environmental issues during the reporting period[167]. - The company has developed a robust wastewater treatment and air pollution control system, ensuring stable operation of its facilities[163]. Legal Matters - The company is involved in ongoing arbitration cases with a total claim amount of RMB 24,008,450.30 related to contract disputes[180]. - The company has executed all arbitration rulings and is currently in the process of appealing certain decisions[180]. - The company filed a lawsuit against Nanjing Cavendish for a breach of contract regarding the Apixaban technology transfer, seeking the return of CNY 4.8 million and a penalty of CNY 6 million[181]. - The company is currently involved in multiple legal disputes with Nanjing Cavendish, including a claim for CNY 9.315 million related to the Dasatinib technology transfer contract[182]. - The company has been awarded a judgment of CNY 6 million in compensation from Nanjing Cavendish in a previous case, which is currently under appeal[183]. Employee Management - The total number of employees at the end of the reporting period is 889, with 424 in the parent company and 465 in major subsidiaries[142]. - The professional composition includes 343 production personnel, 415 technical personnel, 50 sales personnel, 14 financial personnel, and 67 administrative personnel[143]. - The training plan for employees includes comprehensive arrangements for training schedules, content, and evaluation methods, ensuring effective skill development[145]. - The company has a performance evaluation system linking employee performance to compensation, with senior management evaluated by the board's committees[144]. - The company is enhancing its talent acquisition by recruiting high-end technical and versatile talents, while also focusing on internal talent development and retention mechanisms[104].